Duke Energy (DUK) FY2013 results: revenue $22.8 billion, up 27.0% on the year
Duke Energy Corp. (DUK) reported revenue of $22.8 billion for fiscal 2013, the year ended 31 December 2013, up 27.0% on the year before. Net income was $2.7 billion, up 50.7%, and diluted earnings per share $3.76. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$22.8 billion
+27.0% on the year
FY2007FY2013
Operating margin
21.3%
16.3% a year earlier
FY2007FY2013
Net income
$2.7 billion
+50.7% on the year
FY2007FY2013
Diluted EPS
$3.76
+22.5% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
22,756
17,912
14,529
+27.0%
Operating income
4,854
2,911
2,777
+66.7%
Operating margin
21.3%
16.3%
19.1%
Interest expense
1,546
1,242
859
+24.5%
Pre-tax income
3,795
2,234
2,465
+69.9%
Income tax
1,205
623
752
+93.4%
Effective tax rate
31.8%
27.9%
30.5%
Net income
2,665
1,768
1,706
+50.7%
Net margin
11.7%
9.9%
11.7%
Diluted EPS
$3.76
$3.07
$3.84
+22.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
6,382
5,244
3,672
+21.7%
Capital expenditure
5,526
5,501
4,363
+0.5%
Free cash flow
856
-257
-691
Free cash flow margin
3.8%
-1.4%
-4.8%
Cash from investing
-4,978
-6,197
-4,434
Cash from financing
-1,327
267
1,202
Depreciation and amortisation
3,229
2,652
2,026
+21.8%
Share-based compensation
85.0
78.0
52.0
+9.0%
Dividends paid
2,188
1,752
1,329
+24.9%
Dividend per share
$3.09
$3.03
$2.97
+2.0%
Diluted shares, weighted
706m
575m
444m
+22.8%
Shares outstanding at period end
706m
704m
445m
+0.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
41,330
40,863
22,772
+1.1%
Non-controlling interest
78.0
78.0
93.0
0.0%
Short-term borrowings
839
1,057
154
-20.6%
Debt
40,256
39,461
20,573
+2.0%
Other liabilities
32,276
32,397
18,934
-0.4%
Total liabilities and equity
114,779
113,856
62,526
+0.8%
Fixed assets
69,490
68,558
42,661
+1.4%
Goodwill
16,340
16,365
3,849
-0.2%
Intangible assets
378
372
363
+1.6%
Investments
44.0
333
261
-86.8%
Trading assets
18.0
33.0
32.0
-45.5%
Cash and equivalents
476
1,424
2,110
-66.6%
Receivables
1,286
1,516
784
-15.2%
Inventory
n/a
n/a
1,588
Other assets
26,747
25,255
10,878
+5.9%
Total assets
114,779
113,856
62,526
+0.8%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.